Machinery/Industrial Goods

Trelleborg profit up; sees flat demand ahead

ChristinaZander

STOCKHOLM--Swedish rubber products maker Trelleborg (TREL-B.SK) said Thursday that demand in the second quarter is expected to be on par with the first as it reported a rising profit for the first three months of the year.

Net profit for the January to the March period was 689 million Swedish kronor ($79.4 million), up from SEK623 million a year earlier as currency and acquired operations had a positive impact on earnings, the company said.

The company said the market was "moving sideways". At the end of the quarter it said there were some signs of improvement in Europe, while a slowdown was observed in North America.

Sales in the first quarter were SEK6.37 billion, up from SEK5.60 billion in the same period a year earlier. Operating profit was SEK935 million, up from SEK848 million.

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